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Amundi Set for Earnings Boost From Victory Capital-First Eagle Deal
The combined firm would manage about $571 billion in assets and boost 2027 adjusted earnings per share by approximately 35%, Victory said.
- On Wednesday, Victory Capital Holdings Inc. agreed to acquire First Eagle Investments in a cash-and-stock deal valued at about $7 billion, creating a combined firm with roughly $571 billion in assets under management.
- Victory CEO David Brown aims to reach $1 trillion in assets through acquisitions, using this deal to expand distribution and gain a foothold in alternative credit, a sector the firm has evaluated for several years.
- The deal structure involves $4.4 billion in cash, $2 billion in shares, and $575 million in assumed debt; Genstar Capital will own roughly 14.6% of Victory upon closing in the first quarter of 2027.
- San Antonio-based Victory has aggressively expanded through acquisitions in recent years, including USAA and Amundi, following a failed bidding war for Janus Henderson against Trian Fund Management and General Catalyst.
- The deal underscores accelerating consolidation in the asset management industry as boardrooms push for larger global presence; PJT Partners, RBC Capital Markets, UBS Investment Bank, and BofA Securities advised the transaction.
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Asset manager Victory Capital strikes $7 billion deal for First Eagle ...
·London, United Kingdom
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Genstar Capital to sell First Eagle to Victory Capital in $7bn deal
Private equity firm Genstar Capital is set to sell asset manager First Eagle Investment Management to Victory Capital in a transaction valuing the business at approximately $7bn, according to a report by the Wall Street Journal. The deal will see Victory Capital pay around $4.4bn in cash and issue approximately $2bn of its own shares to the sellers. The buyer will also assume $575m of First Eagle’s existing 7.25% senior secured notes, due in 203…
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Total News Sources13
Leaning Left0Leaning Right1Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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